CHICAGO, June 18, 2015 /PRNewswire/ -- The Board of
Directors of DNP Select Income Fund Inc. (NYSE: DNP), a closed-end
fund advised by Duff & Phelps Investment Management Co., today
authorized the payment of dividends on its common stock as
follows:
Cents Per
Share
|
Record
Date
|
Payable
Date
|
6.5
|
July 31,
2015
|
August 10,
2015
|
6.5
|
August 31,
2015
|
September 10,
2015
|
6.5
|
September 30,
2015
|
October 13,
2015
|
The Fund adopted a Managed Distribution Plan (the "Plan") in
2007 to maintain its current 6.5 cent
per share distribution rate. Under the Plan, the Fund will
distribute all available investment income to its shareholders,
consistent with the Fund's primary objective. If and when
sufficient investment income is not available on a monthly basis,
the Fund will distribute long-term capital gains and/or return of
capital to its shareholders in order to maintain the 6.5 cent per share distribution level.
The following table sets forth the estimated amounts of the
Fund's current monthly distribution, payable June 10, 2015, together with the cumulative
distributions paid this fiscal year to date from the following
sources: net investment income; net realized short term capital
gains; net realized long term gains; and return of capital or other
capital source. All amounts are expressed per share of common
stock based on U.S. generally accepted accounting principles, which
may differ from federal income tax regulations.
Notification of Sources of Distribution
Distribution Period: May 2015
Distribution Amount Per Share of Common
Stock: $0.065
|
Current
Distribution
($)
|
% Breakdown
of
the
Current
Distribution
|
Total
Cumulative
Distributions for
the
Fiscal Year to
Date
($)
|
% Breakdown of
the
Total
Cumulative
Distributions for
the
Fiscal Year to
Date
|
Net Investment
Income
|
0.031
|
48%
|
0.200
|
44%
|
Net Realized Short
Term Capital Gains
|
0.000
|
0%
|
0.000
|
0%
|
Net Realized Long
Term Capital Gains
|
0.034
|
52%
|
0.255
|
56%
|
Return of Capital or
Other Capital Source
|
0.000
|
0%
|
0.000
|
0%
|
Total
(per common
share)
|
0.065
|
100%
|
0.455
|
100%
|
Average annual total
return* (in relation to NAV) for the 5 years ended on May 31,
2015
|
18.6%
|
Annualized current
distribution rate expressed as a percentage of NAV as of May 31,
2015
|
8.2%
|
Cumulative total
return (in relation to NAV) for the fiscal year through May 31,
2015
|
-2.3%
|
Cumulative fiscal
year distributions as a percentage of NAV as of May 31,
2015
|
4.8%
|
* Simple arithmetic average of each of the past five annual
returns.
You should not necessarily draw any conclusions about the Fund's
investment performance from the amount of these distributions or
from the terms of the Fund's Plan.
The amounts and sources of distributions reported in this notice
are only estimates and are not being provided for tax reporting
purposes. The actual amounts and sources of the amounts for
tax reporting purposes will depend upon the Fund's investment
experience during the remainder of the fiscal year and may be
subject to changes based on tax regulations. The Fund will
send you a Form 1099-DIV for the calendar year that will tell you
how to report these distributions for federal income tax
purposes.
The Fund will issue a separate 19(a) notice at the time of each
monthly distribution using the most current financial information
available.
About the Fund
DNP Select Income Fund Inc. is a closed-end diversified
investment management company whose primary investment objectives
are current income and long-term growth of income. The fund seeks
to achieve these objectives by investing primarily in a diversified
portfolio of equity and fixed income securities of companies in the
public utilities industry. For more information, visit
www.dnpselectincome.com or call (800) 864-0629.
About the Investment Adviser
Duff & Phelps Investment Management Co. is a subsidiary of
Virtus Investment Partners (NASDAQ: VRTS), a multi-boutique asset
manager with $54.8 billion under
management as of March 31, 2015. Duff
& Phelps has more than 35 years of experience managing
investment portfolios, including institutional separate accounts
and open- and closed-end funds investing in utilities,
infrastructure and real estate investment trusts (REITs). For
more information, visit www.dpimc.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/dnp-select-income-fund-announces-dividends-and-sources-of-distribution-300101829.html
SOURCE DNP Select Income Fund Inc.